Zoom Video Communications, Inc. (NASDAQ:ZM) Shares Sold by Blair William & Co. IL

Blair William & Co. IL trimmed its position in shares of Zoom Video Communications, Inc. (NASDAQ:ZM) by 26.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,552 shares of the company’s stock after selling 31,806 shares during the period. Blair William & Co. IL’s holdings in Zoom Video Communications were worth $7,308,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Algert Global LLC boosted its stake in shares of Zoom Video Communications by 10.7% during the 3rd quarter. Algert Global LLC now owns 9,841 shares of the company’s stock valued at $686,000 after buying an additional 951 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Zoom Video Communications by 20.2% in the third quarter. The Manufacturers Life Insurance Company now owns 16,125 shares of the company’s stock valued at $1,125,000 after acquiring an additional 2,714 shares in the last quarter. CreativeOne Wealth LLC boosted its stake in Zoom Video Communications by 29.0% during the 3rd quarter. CreativeOne Wealth LLC now owns 8,287 shares of the company’s stock valued at $578,000 after acquiring an additional 1,862 shares during the last quarter. MetLife Investment Management LLC grew its holdings in Zoom Video Communications by 3.4% during the 3rd quarter. MetLife Investment Management LLC now owns 4,619 shares of the company’s stock worth $322,000 after acquiring an additional 154 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Zoom Video Communications by 59.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 118,107 shares of the company’s stock worth $8,237,000 after purchasing an additional 44,203 shares during the last quarter. Hedge funds and other institutional investors own 66.54% of the company’s stock.

Zoom Video Communications Trading Down 2.5 %

Zoom Video Communications stock opened at $74.84 on Friday. Zoom Video Communications, Inc. has a 52 week low of $55.06 and a 52 week high of $92.80. The stock has a market cap of $22.84 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 5.48 and a beta of 0.26. The company’s 50-day moving average price is $79.78 and its two-hundred day moving average price is $78.23.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Citigroup lowered their price objective on Zoom Video Communications from $86.00 to $85.00 and set a “neutral” rating for the company in a report on Tuesday, February 18th. Jefferies Financial Group upgraded Zoom Video Communications from a “hold” rating to a “buy” rating and boosted their price target for the company from $85.00 to $100.00 in a report on Thursday, December 19th. Benchmark restated a “buy” rating and set a $97.00 price objective on shares of Zoom Video Communications in a research note on Tuesday, February 25th. Scotiabank lowered their target price on shares of Zoom Video Communications from $85.00 to $75.00 and set a “sector perform” rating for the company in a research note on Monday, March 17th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $87.00 price target on shares of Zoom Video Communications in a research report on Tuesday, February 25th. Fifteen analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Zoom Video Communications presently has a consensus rating of “Hold” and a consensus target price of $89.33.

Insider Activity

In other news, COO Aparna Bawa sold 9,317 shares of Zoom Video Communications stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $78.69, for a total value of $733,154.73. Following the transaction, the chief operating officer now owns 14,053 shares of the company’s stock, valued at $1,105,830.57. The trade was a 39.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Velchamy Sankarlingam sold 10,817 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $851,189.73. Following the completion of the sale, the insider now owns 117,760 shares in the company, valued at $9,266,534.40. The trade was a 8.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 371,746 shares of company stock worth $29,689,595 over the last three months. Corporate insiders own 10.78% of the company’s stock.

Zoom Video Communications Profile

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.